EU proposal would mandate audit rotation every 6 years

06/3/2013 | AccountancyMagazine.com (U.K.)

Audit rotation would be mandatory every six years in the EU under a revised reform plan. A proposal from the Irish presidency also includes a 70% fee cap for nonaudit services. These and other changes are being weighed by a competitiveness panel of the Council of the EU, with a target set for the end of June to achieve consensus.

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AccountancyMagazine.com (U.K.)